IMF's Köhler Welcomes Turkish Measures

IMF Managing Director Horst Köhler, commenting on measures announced by the Turkish authorities on November 30, said:

"The measures announced today by the Turkish authorities show their commitment to the program with the IMF. We particularly welcome that the conduct of monetary policy is once more consistent with the framework agreed under the program.

"To assist the authorities, particularly in the area of banking sector reforms, we are this weekend sending two IMF missions to Turkey.

"I trust that the authorities will continue rigorously to implement the agreed program, especially its monetary policy and banking sector components, and will reach agreement with the IMF on measures to strengthen policies further. Based on the implementation of strong policies, I would be willing to recommend to the Executive Board that additional resources be made available to Turkey."